Guidelines & Regulations

Guidelines & Regulations

FRAMEWORK FOR ENLIGHTENMENT AND PUBLIC AWARENESS FOR THE MICRO PENSION PLAN

Sequel to the release of the Guidelines for the Micro Pension Plan (MPP), the National Pension Commission (the Commission) identified the need to intensify public enlightenment in a sustained manner, in order to raise the level of awareness and acceptability of the MPP as a critical success factor. This Framework spell out the modalities for […]

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CIRCULAR ON RECLASSIFICATION AND VALUATION OF PENSION FUND ASSETS UNDER INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS 9)

As a follow up to the Commission’s letter of 5 November, 2020 on the above subject matter, we write to clarify and direct as follows:

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Circular on Fund Accounting

This Fund Accounting Circular is for reporting the Accounting Entries for the transfer of RSA from one PFA to another and the purchase of RLA by Retirees with their RSA balances. The provisions of this Circular are consistent with the PRA, 2014.

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REGULATION FOR THE TRANSFER OF RETIREMENT SAVINGS ACCOUNTS

Section 13 of the Pension Reform Act (PRA) 2014 specifies that a Retirement Savings Account (RSA) Holder may transfer his RSA from one Pension Fund Administrator (PFA) to another. It further specifies that such transfer should not be more than once a year. To facilitate the implementation of Section 13 of the PRA 2014, the […]

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